International Paper (NYSE:IP) Posts Quarterly Earnings Results, Beats Estimates By $0.20 EPS

International Paper (NYSE:IP) released its quarterly earnings data on Thursday. The basic materials company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.20, Briefing.com reports. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.70 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS.

International Paper Stock Up 12.5 %

Shares of IP stock traded up $6.12 during trading hours on Thursday, reaching $55.15. The company had a trading volume of 7,069,273 shares, compared to its average volume of 5,282,310. The company has a market cap of $19.16 billion, a price-to-earnings ratio of 45.59 and a beta of 1.04. The business has a fifty day simple moving average of $48.20 and a 200-day simple moving average of $44.72. International Paper has a 12 month low of $31.76 and a 12 month high of $56.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Friday, November 15th. International Paper’s payout ratio is 151.64%.

Insiders Place Their Bets

In other International Paper news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $47.22, for a total transaction of $236,100.00. Following the sale, the vice president now directly owns 16,788 shares of the company’s stock, valued at approximately $792,729.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Holly G. Goughnour sold 5,000 shares of International Paper stock in a transaction on Friday, September 6th. The stock was sold at an average price of $47.22, for a total value of $236,100.00. Following the completion of the sale, the vice president now owns 16,788 shares of the company’s stock, valued at $792,729.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn D. Sullivan sold 600 shares of International Paper stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.10, for a total value of $27,660.00. Following the transaction, the director now directly owns 41,002 shares in the company, valued at approximately $1,890,192.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,840 shares of company stock valued at $906,386. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Argus raised shares of International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Wednesday, August 14th. Truist Financial lifted their price target on International Paper from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of International Paper from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Stifel Nicolaus assumed coverage on shares of International Paper in a research report on Tuesday, July 9th. They set a “hold” rating and a $48.70 price objective on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Paper currently has an average rating of “Moderate Buy” and a consensus price target of $50.46.

About International Paper

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.